Definitions

The construction cost index reflects changes in the costs of construction work performed during the reference period compared with the base period.

For the calculation of the CCI, the following components are compared: prices of the building materials used, hourly gross labour remuneration of construction workers, maintenance and operational costs of machinery and mechanical appliances.

The CCI is input price index, as it presents price changes for the main types of resources invested in the construction. The CCI does not include overheads, contractor’s profit indicators and efficiency changes, which is a part of output price index and presents price changes for the completed construction objects.

CPI reflects changes in the prices of consumer goods and services in a specified period of time. The CPI measures the average level of price changes in a fixed amount of selected goods and services (the consumer basket). This indicator is used as a principal measure of inflation in Latvia.

The CPI reference period is year 2015, which is expressed by 100 index points (2015 = 100). Price changes during a month, year or any other period are calculated on the basis of price indices. Price indices with the reference periods 2010 = 100, 2005 = 100, 2000 = 100 or December 1990 = 100 are used to calculate price changes over a longer period of time.

CPI is pure price index. It does not reflect the changes in purchasing/ consumption patterns or brands and does not reflect the effect of outlet and service provider substitution.

The export/import unit value index (EUVI and IUVI) characterises changes in the price level of exported and imported goods within the reporting period against the base period. The unit value index is a "price" index that measures average value changes in a heterogeneous cluster of units. Therefore, it may be influenced by changes both in the composition of this cluster and in individual prices.

The average unit value is obtained by dividing the value of exported/imported goods in monetary terms with the respective amount of the goods (weight, volume etc).